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...past severe downturns, when the U.S. economy contracted by 2.5% or more, the average price-to-earnings (P/E) ratio of S&P 500 index stocks has dipped to as low as 10 (the long-term average P/E is 21). From where we stand today, stocks must drop quite a bit more before they reach this historical nadir. How far? Based on 2008 corporate-earnings estimates, the average P/E for the S&P 500 index is currently about 17. Factor in earnings estimates for 2009 - S&P analysts are forecasting average per-share earnings will be $48.52 next year, down from...
...Signs in the dining halls recommend that students try “trayless dining.” How does ditching the tray help Harvard’s efforts in sustainability?TAM: People take less food. They take less food and they waste less. They’re a bit more conscious of their choice. And it also saves money, and if you save money, you can use it for buying more local or sustainable food.9. FM: You also recently went to the University of Tokyo and spoke at the first ever Food Symposium on the role of food awareness...
...marked their first opportunity to cast a ballot for president. This year’s particularly riveting race, between Democratic nominee Obama and Republican Senator John McCain, heightened their enthusiasm for the contest, which has gripped the nation for almost two years. “This election feels a bit more pivotal,” said Mathieu J. Cunha ’11, whose statement echoed voter concerns about a deteriorating economy, a protracted military engagement, and widespread dissatisfaction with the Bush administration. Polling stations both in Cambridge and around the country experienced high turnout as they opened their doors...
...pursued cosmopolitan interests, including movies, arts, and popular culture. Esherick and Crichton would always have dinner together in Lowell House before Crichton would run off to The Crimson to write movie reviews.Former Crimson editorial chair Robert W. Gordon ’63 said Crichton possessed a “bit of knowledge about everything,” displaying his versatility by writing for both editorial and news.“He was a master of all the disciplines,” added Gordon, now a professor at Yale Law School.Upon graduation, Crichton became a traveling fellow and visiting lecturer...
...Voice were just a group of first-timers genuinely trying to write something new and stumbling a bit along the way, these problems might be forgivable. Publishing a full-color newspaper every week, however, is enormously expensive, to say nothing about the cost of the incessant merchandising and trinket offers which the paper has set out as come-alongs. Other student groups, even well-established ones, can only dream about having that kind of money. What is at work in The Voice’s shoddy quality is not amateurism or a lack of resources. It is a superficial showmanship...